Cairo -  EFG Capital Partners, a subsidiary of Egyptian Financial Group Hermes Holding (EFG Hermes), has raised its stake in Maridive & Oil Services to 5.32% from 8.26% in exchange for $940,000.

EFG Capital has purchased 12.36 million shares in Maridive & Oil Services at a price of $0.076 per share, according to a bourse filing on Sunday.

It is noteworthy to mention that in May, the extraordinary general meeting (EGM) of Maridive & Oil Services approved to reduce the authorised capital by 5.94% to $940.51 million.

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